News Room - Steel Industry

Posted on 14 Nov 2008

China to further relax export tax policies next month - report

In an effort to boost domestic demand and maintain strong economic growth during the current global economic crisis, China's State Council has decided to further relax export tax policies beginning Dec. 1, state media reported on Nov. 12.

 

China will cancel export taxes on certain steel and chemical products, as well as grains, while reducing export taxes on certain fertilizer products, Xinhua news agency reported.

 

In addition, in order to further support local small- and medium- sized enterprises, Chinese authorities will further raise export tax rebates for labor-intensive products, machinery and other products that have seen their exports significantly affected by the economic crisis.

 

Furthermore, the government said it will raise or impose new export taxes on other unspecified products. However, the report gave no further details.